Illinois Entrepreneur Secures Financing to Buy Cornwell Quality Tool Company,Inc Franchise

Need a loan to purchase a Cornwell Quality Tool Company,Inc franchise? Northwest Bank & Trust Company has a history of making these loans and they are guaranteed by the SBA.

Cornwell Quality Tool Company,Inc franchise loans are available to Rock Island, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Northwest Bank & Trust Company, based in Davenport, Iowa, issued an SBA franchise loan for a Cornwell Quality Tool Company,Inc franchise in 2004. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

QUAD CITY TOOL SALES
ROCK ISLAND, IL 61201

SBA Loan Lender

NORTHWEST BANK & TRUST COMPANY
100 E KIMBERLY
DAVENPORT, IA 52806

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

6/18/2004

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cornwell Quality Tool Company,Inc franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Rock Island IL, you ought to talk with a local Rock Island SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Rock Island businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Northwest Bank & Trust Company are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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